IDEAYA Biosciences (NASDAQ:IDYA) Shares Cross Below 200 Day Moving Average - Should You Sell?

Key Points

• IDEAYA Biosciences shares fell below their 200-day moving average of $34.19, trading as low as $32.52 and last changing hands at $32.88.
• Despite the technical weakness, analysts remain broadly positive: 13 rate the stock Buy, one rates it Hold and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $51.09.
• The company remains unprofitable, reporting a quarterly EPS loss of $1.22 versus a $1.06 expected loss, although revenue rose 8,800% year over year to $8.86 million; institutional investors own 98.29% of the shares.

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $34.19 and traded as low as $32.52. IDEAYA Biosciences shares last traded at $32.88, with a volume of 1,188,205 shares changing hands.

Analyst Ratings Changes

IDYA has been the topic of several research reports. Citizens Jmp reissued a "market outperform" rating and issued a $42.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, September 1st. Citigroup reissued a "market outperform" rating on shares of IDEAYA Biosciences in a research note on Monday, October 19th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of IDEAYA Biosciences in a research note on Thursday, October 15th. William Blair began coverage on shares of IDEAYA Biosciences in a research note on Friday, October 16th. They issued an "outperform" rating for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of IDEAYA Biosciences in a research report on Tuesday, September 22nd. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $51.09.

IDEAYA Biosciences Stock Performance

The business has a fifty day moving average price of $37.72 and a 200 day moving average price of $34.19. The company has a market capitalization of $2.89 billion, a PE ratio of -16.95 and a beta of -0.04.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.16). IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%. The business had revenue of $8.86 million for the quarter, compared to analysts' expectations of $8.02 million. During the same quarter in the prior year, the firm earned ($0.88) earnings per share. IDEAYA Biosciences's quarterly revenue was up 8800.0% compared to the same quarter last year. Research analysts forecast that IDEAYA Biosciences, Inc. will post -4.52 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Yujiro Hata sold 26,338 shares of the business's stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $37.41, for a total transaction of $985,304.58. Following the transaction, the chief executive officer directly owned 690,695 shares of the company's stock, valued at approximately $25,838,899.95. The trade was a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC grew its holdings in IDEAYA Biosciences by 20.5% during the 3rd quarter. Sterling Capital Management LLC now owns 1,873 shares of the company's stock worth $72,000 after acquiring an additional 319 shares in the last quarter. GAMMA Investing LLC boosted its position in IDEAYA Biosciences by 79.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,315 shares of the company's stock valued at $89,000 after purchasing an additional 1,022 shares during the period. Congress Asset Management Co. increased its position in IDEAYA Biosciences by 25.5% in the third quarter. Congress Asset Management Co. now owns 147,696 shares of the company's stock worth $5,674,000 after buying an additional 29,983 shares during the period. Tidal Investments LLC increased its position in IDEAYA Biosciences by 21.0% in the second quarter. Tidal Investments LLC now owns 135,847 shares of the company's stock worth $5,063,000 after buying an additional 23,538 shares during the period. Finally, Nykredit A S acquired a new position in shares of IDEAYA Biosciences during the second quarter valued at $76,000. Institutional investors and hedge funds own 98.29% of the company's stock.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc NASDAQ: IDYA is a biotechnology company focused on discovering and developing precision medicines for cancer. Its research emphasizes synthetic lethality, biomarker-driven drug discovery and molecularly defined patient populations, with the goal of matching targeted therapies to specific genetic alterations in tumors.

The company's pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily for genetically defined cancers, including metastatic uveal melanoma.

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